fifth_70-9959

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q0C/CHudvp+Tc4TRFb66G5PiC59dvrstEjfFS5D0n8UssoMSjbs/BInmrZXD0ZVc rk1Uk7Xxvg/gekVu/K34fw== 0000070145-03-000035.txt : 20030521 0000070145-03-000035.hdr.sgml : 20030521 20030521161228 ACCESSION NUMBER: 0000070145-03-000035 CONFORMED SUBMISSION TYPE: 35-CERT PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20030521 EFFECTIVENESS DATE: 20030521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL FUEL GAS CO CENTRAL INDEX KEY: 0000070145 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 131086010 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 35-CERT SEC ACT: 1935 Act SEC FILE NUMBER: 070-09959 FILM NUMBER: 03714679 BUSINESS ADDRESS: STREET 1: 10 LAFAYETTE SQ CITY: BUFFALO STATE: NY ZIP: 14203 BUSINESS PHONE: 7168576980 MAIL ADDRESS: STREET 1: 10 LAFAYETTE SQ STREET 2: 10 LAFAYETTE SQ CITY: BUFFALO STATE: NY ZIP: 14203 35-CERT 1 rule24_2q03.htm RULE24_2Q03 fifth_70-9959

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

NATIONAL FUEL GAS COMPANY	FIFTH
HORIZON ENERGY DEVELOPMENT, INC.	CERTIFICATE
HORIZON ENERGY HOLDINGS, INC.	PURSUANT TO
and its subsidiaries	RULE 24

File No. 70-9959
(Public Utility Holding Company Act of 1935)

THIS IS TO CERTIFY, pursuant to Rule 24, that certain transactions proposed by National Fuel Gas Company (“National”), its subsidiary, Horizon Energy Development, Inc. (“Horizon”), Horizon’s subsidiary, Horizon Energy Holdings, Inc. (“Holdings”), and Holding’s subsidiaries (“Intermediate Subsidiaries”), in their Application-Declaration on Form U-1, as amended (File No. 70-9959), have been carried out in accordance with the terms and conditions of said Application-Declaration and the Order (HCAR No. 35-27487, dated December 31, 2001) of the Securities and Exchange Commission (the “Commission”) with respect thereto, and that the following information for the quarter ended March 31, 2003 is herein provided:

1)	A general description of the Development Activities of Horizon or any Intermediate Subsidiary during the quarter and of any exempt wholesale generator or foreign utility company in which National has acquired, directly or indirectly, an ownership interest during the quarter:

Horizon and Intermediate Subsidiaries engaged, directly or indirectly, in one or more of the following Development Activities during the quarter: due diligence and design review; market studies; preliminary engineering; site inspection; preparation of bid proposals, including posting of bid bonds; application for required permits and/or regulatory approvals; acquisition of site options and options on other necessary rights; negotiation and execution of contractual commitments with owners of existing facilities, equipment vendors, construction firms, power purchasers, thermal “hosts,” fuel suppliers and other project contractors; discussion of financing opportunities with lenders and other third-party investors; and such other preliminary activities as may be required.

National did not acquire, directly or indirectly, an ownership interest in any exempt wholesale generator or foreign utility company during the quarter.

2)	Information on Project Services (administrative, operating, technical and management services) performed during the quarter:

Company Providing Service	Company Receiving Service	Type of Service	Total Charges*	At Cost or Fair Market Value
Horizon	Horizon Energy Development, s.r.o.	Technical and management services	$28,200 ¹	Fair market value
Horizon Energy Development, s.r.o.	Horizon	Administrative services	$19,100 ¹	Fair market value
Horizon Energy Development, s.r.o.	United Energy, a.s.	Administrative and operating services	$200,342	Fair market value
United Energy, a.s.	Teplarna Liberec, a.s.	Administrative and management services	$103,637	Fair market value

* Amounts are shown in US$. Original billings may be calculated in Czech Korunas. For the quarter ended March 31, 2003, the average spot exchange rate was CZK29.57/US$1.
¹ Represents amounts accrued during quarter. Under terms of agreements, billings are submitted on an annual basis at the end of the year.

3)	Information regarding new Intermediate Subsidiaries:

	No new Intermediate Subsidiaries were formed or acquired during the quarter.

4)	Amount of any Guarantee issued by Horizon or any Intermediate Subsidiary that is not exempt under Rule 45(b) or Rule 52:

	Neither Horizon nor any Intermediate Subsidiary issued any such Guarantee during the quarter.

5)	Horizon financial statements:

	Horizon's balance sheet at March 31, 2003 is attached as Exhibit 1, and Horizon's income statement for the quarter ended March 31, 2003 is attached as Exhibit 2.

IN WITNESS WHEREOF, the undersigned companies have caused this Certificate to be executed as of this 21st day of May, 2003.

	NATIONAL FUEL GAS COMPANY

	By: /s/ R. J. Tanski
	R. J. Tanski
	Controller

	HORIZON ENERGY DEVELOPMENT, INC.

	By: /s/ R. J. Tanski
	R. J. Tanski
	Secretary and Treasurer

	HORIZON ENERGY HOLDINGS, INC.

	By: /s/ R. J. Tanski
	R. J. Tanski
	Secretary and Treasurer

EX-99 3 balance-2q03.htm BALSHT_2Q03 balance EXHIBIT 1

HORIZON ENERGY DEVELOPMENT, INC.
BALANCE SHEET
(Unaudited)


                                                        At March 31, 2003
                                                       ---------------------
ASSETS
Property Plant & Equipment
   Property Plant & Equipment                                  $345,653,452
   Accumulated D, D & A                                        (136,467,216)
                                                       ---------------------
Net Property, Plant & Equipment                                 209,186,236
                                                       ---------------------

Current Assets:
   Cash and Temporary Cash Investments                           33,512,593
   Notes Receivable-Intercompany                                  1,400,000
   Receivables - Net                                              6,383,977
   Accounts Receivable-Intercompany                                  28,995
   Unbilled Utility Revenue                                       3,539,815
   Materials/Supplies - Average Cost                              2,901,678
   Prepayments                                                       30,683
                                                       ---------------------
Current Assets                                                   47,797,741
                                                       ---------------------

Other Assets                                                        494,171
                                                       ---------------------

Total Assets                                                   $257,478,148
                                                       =====================

CAPITALIZATION & LIABILITIES
Capitalization:
   Capital Stock of Subsidiaries                                     $4,750
 Paid in Capital                                                 38,245,591
   Earnings Reinvested in Business                              (13,479,479)
   Accumulated Other Comprehensive Income                        10,653,722
                                                       ---------------------
Total Common Stock Equity                                        35,424,584

   Long-Term Debt Net of Current Portion                         16,612,489
   Notes Payable - Intercompany - Long Term                      89,770,000
                                                       ---------------------
Total Capitalization                                            141,807,073
                                                       ---------------------

Minority Interest in Foreign Subsidiaries                        32,920,383
                                                       ---------------------

Liabilities:
   Notes Payable - Intercompany                                  26,200,000
   Long Term Debt Due Current                                    11,085,465
   Accounts Payable - Other                                      17,546,945
   Accounts Payable - Intercompany                                2,474,401
   Other Accruals & Current Liabilities                           5,159,415
                                                       ---------------------
Total Current Liabilities                                        62,466,226
                                                       ---------------------

Deferred Credits:
   Accumulated Deferred Income Tax                               17,846,969
   Other Deferred Credit                                          2,437,497
                                                       ---------------------
Total Deferred Credits                                           20,284,466
                                                       ---------------------

Total Capitalization & Liabilities                             $257,478,148
                                                       =====================

EX-99 4 income-2q03.htm INCSTMT_2Q03 incomestmt EXHIBIT 2

HORIZON ENERGY DEVELOPMENT, INC.
INCOME STATEMENT
(Unaudited)


                                                      Three Months Ended
                                                        March 31, 2003
                                                   --------------------------

Operating Revenue:
  Operating Revenue                                              $46,981,459
                                                   --------------------------

Operating Expenses:
  Fuel Used in Heat and Electric Generation                       23,127,353
  Operation and Maintenance Expenses                               7,438,141
  Property, Franchise & Other Taxes                                  836,360
  Depreciation, Depletion & Amortization                           3,433,530
                                                   --------------------------
Operating Expenses                                                34,835,384
                                                   --------------------------
Operating Income                                                  12,146,075
                                                   --------------------------

Other Income                                                       1,497,551
                                                   --------------------------

Interest Charges                                                   2,929,978
                                                   --------------------------

Income Before Income Taxes                                        10,713,648
                                                   --------------------------

Income Taxes - Current                                             1,751,177
Income Taxes - Deferred                                            1,580,890
                                                   --------------------------
                                                                   3,332,067
                                                   --------------------------

Minority Interest in Foreign Subsidiaries                         (1,790,939)
                                                   --------------------------

Net Income                                                        $5,590,642
                                                   ==========================

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